The SGX Nifty is suggesting a solid start to begin trade with and that's because the US markets ended with gains of 1 to 2 percent. The Down Jones was up 2.1 percent, the S&P 500 was rallying 1.5 percent, and NASDAQ gaining 1.1 percent. The Nasdaq notched its sixth straight week of gains for the first time since 2020. The reason for the optimism and the rally in the global markets was one. The non-farm payroll data was stronger than what the street was anticipating, which means the labour data continues to be resilient yet.The street doesn't think that the fed will continue with its rate hiking cycle. The US Fed will be meeting on June 13 and 14, and the expectations are that it will pause at the upcoming meeting. The reason for the same is because the hourly wages that ticked lower than what the street anticipating and also the unemployment rate also went up.There was a big outperforming seed in the broader markets last week.

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05 Jun 2023